I am watercooling for now about 5 Years with changing equipment, only the pump is the same.
I personally do not like the laing-style pumps, my favourite is the aquastream xt, based on the good old Eheim-Aquarium pump, but modded. My pump is running now for the whole time without any failure.
The Laing-pump is not that stable, Eheim is a good brand for reliable systems.
Besides: there is lots of equipment avaiable tho watch over the system and shut the computer down if a failure occurs. All you can buy for money is there

.
And it is a myth that a big waterflow is necessary, several tests have prooven that this is not the case. The water needs some time inside the radiator to cool effectivily down. Maiboard blocks are in fact very expensive, I bought some standard-blocks witch are compatible on other mainboards also, the pain is the grafik-block, beeing expensive and most times not compatible (Don`t buy cheap blocks just cooling the gpu, this is crap).
Without CPU-fan you willget trouble with the mainboard temperature, thats why I have it under water also (some fans will do the same job). RAM-watercooling is very good also if the airflow is missing, mine are compatible and I have them for serveral years from DDR1 to DDR2, they will fit for DDR3 too.
You have to look out for stuff that lasts long and is compatible for future, otherwise the stuff is a waste of money.